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Feb 20, 2013 6:00pm PST
and losses, all the expenditures, deficits and surpluses, we end up with a net of almost $19 million short. the pending supplementals, both approved and pending before the board of supervisors amount to 6.4 million to the general fund. and then the use of the general re serve of 32.2 million. we are assuming you will need to use all of that reserve in order to balance the budget. and then the deposits to reserves, because of our increases to revenue, amount to 11 million. so, that brings us to a projected fund balance estimate of 174 million. as i mentioned before, 103 million of that was already committed to the year two. and the replenishment of the general re serve that we will be using this year needs to be incorporated in next year's budget, leaving us with a projected surplus of $38 million. so, the next slide provides you with a summary of our major tax revenue in the city and it shows you where the bulk of that surplus 72 million come from. and that is property transfer taxes, about $21 million over the budget as we are taking a look at the cash we've received thus far and es
Feb 17, 2013 12:00am PST
in our budget deficit projection, we're assuming we will want to have a state reserve so that costs us money those years. we assume that some of the one-time sources that we may have used to balance the budget last year are not available and then we have revenue growth in the general fund. and i have assumed that there will be about $50 million of revenue growth and -- in the first year and 128 million in the second year. on the expenditure side, what you can see is that our costs are growing largely because of personnel related costs. so, this is slide 9. the first line, so, $8.8 million of costs greater than what we -- what you adopted in the budget last year. but recall that the budget we adopted for the second year already had $90 million of wage and benefit growth for our existing employees on the general fund. so, essentially what that means is that in 13-14 it will cost us $100 million to have the same employees that we have this year and the subsequent year it will cost another $100 million. so, $200 million in growth in wage and benefits. and that's largely driven by our be
Feb 16, 2013 6:20pm EST
it while shrinking our deficit. begin a have to choose. we just need to make smarter choices. last year both parties work together to reduce the deficit by more than 2.5 trillion dollars. up at a store the goal of 4 trillion dollars to stabilize -- that is helping us reach the goal of $4 trillion to stabilize the deficit. we cannot for senior citizens and working families to bear the burden of deficit reduction while the wealthiest are asked to do nothing more. that will not work. we cannot cut our way to prosperity. i propose a balanced approach to bring down the cost of healthcare and getting rid of tax lee pulls -- tax loopholes. we should pursue bipartisan comprehensive tax reform that encourages job creation and helps bring down the deficit. we know what we need to do. the steps are common sense. it will help grow our economy and strengthen our middle class. in the coming weeks and months, our work will not be easy. but america only moves forward when we do so together. when we accept our obligation to one another and to the future generations. that is the american story. that
Feb 17, 2013 12:30am PST
will be able to close that deficit. the public defender, however, we do not believe that the public defender will be able to close his deficit and this is entirely in the area of sail. -- salaries. as was talked about last week, there are a number of vacancies that the public defender has that the controller's office is now holding vacant because of the existing deficit. so, unless there is a supplemental appropriation of additional general fund money to the public defenders office, we in the controller's office have the authority and responsibility to hold any additional spending until there is such policy from the mayor and the board of supervisors. emergency management will likely be able to close their doctor this deficit with holding positions vacant and some of their operating expenses. so, taken together, all these net shortfall departments represent a shortage of about $51.3 million. and then the bottom half of that table identifies the surplus department. and, so, the human services agency has seen a significant reduction in their expenses in the current year. and then beyo
Feb 16, 2013 1:30pm EST
some of those for the purpose of deficit reduction. that is what our plan does in the short term and that is what it would do in the long term. we hope we can have an opportunity to have an up and down vote on the plan that we have put forward. at least two or three times we are going to be asking for a vote in the rules committee for that proposal. i hope we can have an opportunity to have a free flow of debate and ultimately a vote. thank you mr. chairman. >> i would love to begin the debate right now but we have a hearing to get into. the floor is yours. >> thank you mr. chairman. i appreciate the opportunity to be here today and discuss with you cbo's outlook for the budget and economy for the next 10 years. are analyzing shows that the country continues to debate a very large economic challenges. i will discuss the economy first and then i will turn to the budget. we anticipate economic growth will remain slow this year because of the gradual improvement in underlying economic factors will be offset. the good news is that the effects of the financial and housing prices appear to
Feb 19, 2013 5:00pm EST
few years, both parties have worked together to reduce our deficit i more than $2.5 trillion. more than two thirds of that was through some really tough spending cuts. the rest of it was through raising taxes, tax rates on the wealthiest 1% of americans. together, when you take the spending cuts and increased tax rates on the top 1%, it puts us halfway to the goal of four dollars trillion -- $4 trillion in deficit reduction. thomas say we needed to stabilize finances. -- economists say we need it. congress also passed a law in 2011 saying that if both parties cannot agree agree on a plan to achieve that goal, about one trillion dollars of additional, arbitrary budget cuts would take effect this year. and the design was to make and the design was to make them so unattractive and unappealing that democrats and republicans would actually get together and find a good compromise of sensible cuts as well as closing tax loopholes and so forth. so, this was all designed to say we cannot do these bad cuts, let's do something smarter. that was the point of this so- called sequestration. unfo
Feb 24, 2013 3:30pm EST
beginning of the obama administration which did, in fact, raise the deficit. we all know that deficits are bad things. bigger deaf sets are -- deficits are bad, other things equal, but other things were not remotely close, and there was a cogent rationale for a stimulus package of that size and maybe even for a bigger one. the biggest message of the book to me as the author is this paradox that there were massive government interventions induced and caused by the fact that the private markets ran amok. the private markets that went off the track, the government came in not perfectly, but pretty effectively to try to put things back on track. and yet at the end of the day we witnessed -- and you've all witnessed it as i have -- this quite sharp backlash against, quote, big government in the united states. now, americans have never liked big government. you call anything big government, and americans will be against it reflexively. but there was a reason for the government interventions. it was a market failure in the financial world the likes of which we've not seen since the 1930s. and
Feb 20, 2013 5:30pm PST
of what the instructions are and why the deficit is where it is. so, just as a reminder to you and to members of the public who may be interested, we have currently a $7.4 billion budget, $3.5 billion in the general fund and in the current year nearly 27,000 employees. our largest revenue is the property tax and our largest cost is and as you all know, our largest department is the department of public health. * last year we moved forward with the first year of two-year budgeting for all departments. we have [speaker not understood] two-year budgets, mta, puc, [speaker not understood] and all others are rolling. which means this year again you will see all of the departments for an update, two-year budget, 13-14, 14-15, 15-16. those must balance. [speaker not understood]. so, just to refresh our memories about how we balanced the budget last year, largely revenue growth some one-time solutions, some departmental and city-wide solutions, we deferred full funding for capital funding, it funding and equipment funding in the second year of the budget which means that that's going to co
Feb 21, 2013 10:00pm EST
federal reserve did what it did, why we had the stimulus package, it did in fact raise the deficit. we all know that the deficits are a bad thing. bigger deficits are bad, other things were not all that close and there was a rationale. the biggest message of the book was the rationale, this paradox that there were massive markets that ran amok. they went off the track. the government came in not perfectly, but pretty effectively to try to put things back on track. at the end of the day we witness, and you have all witnesses, is quite sharp backlash. americans have never liked big government. but there was a reason for government interventions. it was a market failure in the financial world. the likes of which we have not seen since 1930s. if we had done nothing about it since then, the 1930s probably would've been a preview of what was to happen. nonetheless, you did have this backlash against the government in general, against president obama, present bush left office shortly after they started. against the democratic party more generally, against the federal reserve. against keynesia
Feb 22, 2013 10:00pm PST
here with this graph the federal budget surplot plus or deficit. obviously it's been some time since we have run anything like a significant budget surplus we went into the recession carrying a farrell substantial deficit and obviously that really ballooned and got much much worse and what we are facing now are really the biggest bulletin deficits that the united states economy has faced since the second world war we are moving in the right direction it's getling smogger and it's still a farrell daunting challenge and this is what was westbound bend the whole fiscal cliff last year and we ended up with an 11th hour deal to avoid the worst of the fiscal live kcliff and i'm not going to read all of the stuff on this slide but basically what we got was tax increases that effect the working poor primarily and the very affluent and not really not much of an impact on the middle class and you can may be have your own political opinions about that but the spending cuts didn't really take much effect at all. the spending cuts are now poised to go into effect march 1st and to make thing
Feb 16, 2013 12:40pm EST
balances. it doesn't even come close. by 2023 the deficit will be nearly one trillion dollars. the president says we need a balanced approach, which means one tax hike after another. of mathematically we cannot tax our way out of this problem. we need to get serious on spending. unfortunately the president has yet to produce a budget. in violation of the law it has yet to be received by congress. democrats have not passed a budget in nearly four years. hopefully that will change. we will offer our budget here in the house on time next month in accordance to the law. we will put our plan against the president's and we will have a healthy debate in the house. i would like to yield to the ranking member. >>, mr. chairman. i want to join the chairman in welcoming dr. elmendorf. with respect to the timing of the budget submission, i think all of us know that we struggled and toast january 2 to pass legislation to avoid the fiscal cliff. the results of that legislation was to make sure we did not see a sharp increase in taxes on middle income americans. we ask higher income individuals t
Feb 23, 2013 12:30pm PST
president's sequester is the wrong way to reduce the deficit, but it is here to stay until washington democrats get serious about cutting spending. the government simply cannot keep delaying the inevitable and spending money it doesn't have. unquote. question, president obama wants to pin sequestration on the republicans. speaker boehner calls sequestration, as you saw, quote unquote, the president's sequester. is he right? >> yes, he is right, in that it was proposed by the president and by his folks when they had the budget impasse, as a way of i say, putting pressure on both sides at some point to deal with it. but our government is so dysfunctional we are at this particular stage now. the problem now is, where do we go from here in terms of this is going to undermine the confidence of the country in the government, and its ability to address problems. it is going to undermine the confidence of business who wants to invest. this is just another disgrace in terms of the way the american government works. >> it's an exaggeration. >> no, i don't think it is. i think it is a major issu
Feb 16, 2013 12:30pm PST
i'm proposing tonight should increase our deficit by a single dime. it is not a bigger government we need, but a smarter government that sets priorities and invests in broad-based growth. >> the president also appeals to congress to work together on climate change, immigration reform, and particularly on the phony issue of automatic government budget cuts known as sequestration. >> question. when former president clinton took the helm during an economic downturn, he said he had a quote laser-like focus on the economy. how would you describe the focus of president obama's state of the union pat buchanan? >> he did pivot back toward the jobs and the economy but overall this was a very libbal brail speech, something we have all heard before nothing new in it and a dead on aarrival speech. he is not going to get the minimum wage, not going to get the assault weapons ban, not going to get amnesty, not an awful lot of the things he has in there. he is appealing to his base and appealing to what he sees as the majority of the country, which probably does support most of what he said. it was
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Feb 16, 2013 10:30am EST
tonight should increase our deficit by a single dime and i instantly thought of this. all the work it does, this machine should sell for over $400 you know you're fot going to spend $400 for it not 375 or 350, all you spend for in fabulous machine and over $400 value, all you spend is just four easy monthly payments of 39.95. >> neil: we found a better deal. the president's pitch won't call you four easy installments of 39.95, he says it won't add a dime to our debt. the 90 billion dollars pre-school plan. not the 40 million dollars infrastructure plan. >> i have no idea. on the college career fund. that's right, three new government programs that on paper some say cost 146 billion bucks, not a dime added to our deficit. and pitching on more than that, but one problem with the pitch, okay, here is the thing, someone's got to pay for it. guess who? gerri willis, adam. lashins lashinsky. charlie gasperino. >> neil: and to like i said, charles payne who did such a good job, i'm cutting -- >> and unfortunately your mic does work. >> outside of the aspect of this. extraordinarily dangerous
Feb 17, 2013 4:00pm PST
it actually not add to the deficit as the president promisees? >> well, to look at it misorically. 1981 ronald reagan came in with his budget program said this would reduce the deficit even though we were cutting taxes and increasing defense spending. turned out to be the highest deficits of that time in history. but, looking back, i'm glad he spent that money because that money was spent to end the cold war. had we been a little bit more careful about that that would have hant. we got over the deficits in ten years. oddly enough, if you look at it with a longer view, these things look different. >> it keeps as if we're trying to re-elections. now the dems want to take the house back. they're moving aggressively to make sure the republicans seek control of the house of representatives in 2014. do we just keep going from cliff to cliff so that everybody can win re-election? >> as michael knows the history on a lot of these elections, midterm elections even better than i do. and i think -- i know democrats may want to do that. i think republicans are really in a good place actually
Feb 19, 2013 5:00pm PST
. tell us about that. >> right, catherine. in 2012 japan logged the biggest yearly trade deficit. and already this early into the new year, 2013, japan is already breaking new records. the trade balance for the country has shown the largest monthly deficit ever. that is based on comparable data that have been compiled since 1979, while the yen weakness has led to an increase in exports, more fuel imports weighed on the balance. finance ministry officials said the trade deficit for january came to about $17.4 billion. the balance has been in the red o'for seven months in a row. japan's exports rose by 6.4% from a year earlier in yen terms. they have risen for the first time in eight months. auto parts exports contributed to the increase. but imports also rose for a third consecutive month, and by 7.3% from a year earlier. higher demand for energy, for use in thermal power generators, was a major factor. and let's get a check on the markets. first taking a look at the stock market. tokyo share prices are trading higher after the dow jones industrial average reached its highest level thi
Feb 16, 2013 2:00am PST
it. >> nothing i'm proposing tonight should increase our deficit by a single dime. it is not a bigger government we need, but a smarter government that sets priorities and invests in broad-based growth. john: , so, karen, if bill clinton kind the famous phrase that the era of big government over, did president obama launch the era of smart government? >> that's going to depend on what side of the aisle you were sitting on when you listened to the speech. but one thing about the speech, there was just a lot in it. he touched every single domestic policy initiative he has ever put together before, even the things that sounded sort of new -- minimum wage, raising it to $9 an hour. in his first campaign, he campaigned on raising it to $9.50 an hour by 2011 but what really came through to me in that speech was his declaration that essentially after two years of doing nothing but fighting with republicans over deficit reduction, he was no longer going to have deficit reduction define policy setting in washington. he said a balanced budget is an important thing but it is not the same
Feb 22, 2013 8:30pm EST
cut this minuscule amount with trillions in deficits every year, we're headed towards greece. we're going to make them look solvent. >> at one pentagon official says, "it really scares the hell out of meat." does it scare you? >> we are not greece, but you can get to be them with silliness like this and no responsibility. evan is right. the president is leading, but not in the direction that he wants. he is leaving to blame the republicans, which i suspect he will succeed in. the republicans seem to have this affinity for suicide diving. they will get blamed. the only answer here is to get together and obama thinks he has them on the ropes. republicans cannot seem to get it together. >> we just heard dr. rand paul said the sequestration was the president's idea. wasn't it? >> who cares. it's a bad idea on both sides. and the the president's responsibility. this is typical washington. it is the president's responsibility more than anyone else's, particularly a second term president. it's his responsibility to rise above this. he's not doing it. >> i'm not sure you something. this was
Feb 17, 2013 9:00pm EST
were under labour with a record deficit, with an reformed welfare, with a busted banking system. they would've seen a government that's cut the deficit down, that's cut the income tax is, that is dealt with the banks. and as the governor of the bank of england said today, it's on the road to recovery. >> all the shows is how out of touch he is. and he's even out of touch with his own office for budget responsibility figures. because what they showed is that by 2015, people will be worse off than they were in 2010. because prices have been rising faster than earnings under him. and why is this happening? it's because he told us the economy would be growing. he told us the economy would be growing, but the truth is it has been flat-lining. will be acknowledged that it's his failure to get growth which means we're having a falling, not rising living standards in this country? >> first of all, i would remind him that inflation is lower under thisovernment than what we inherited from labour. it has been cut in half from its peak but, of course, it is question is have you had to take diffic
Feb 20, 2013 5:00pm EST
case it means deficit reduction through entitlement reforms, spending cuts, and tax reforms that produce more revenues. that is how we have gotten to where we are which is $5.2 trillion in deficit reduction under this president. that is how we'll get to the goal of $4 trillion in total reduction over 10 years if congress does the right thing, avoids this unnecessary cry seance all the negative effects that would come from it. passes down the short term buydown of the sequester and proproceeds with regular business. >> for natural gas and exports but u.s. masters are worried they could be impacted. is this allowing to exports and natural gas to japan? >> i appreciate the question. i'm sure we'll have a preview for you with the prime minister. i don't want to negotiate with our important allies. i'm sure we'll have more to say about this tomorrow and friday. >> what is the president's plan to prevent the sequestration from happening? you've talked about budget cuts -- what are those cuts he's proposaling? >> you can go to white and look at the reporting done and the infor
Feb 22, 2013 3:00pm PST
to reduce the deficit. >> not smart? >> the president was just being gracious. these cuts are crazy. not republicans are not letting them happen. especially to protect the rich. the american people don't want any of these cuts that are about to kick in next friday. 80% of spending cuts on education, just 10% want the cut. 83% oppose spending cuts for food and drug inspections. just 14% want them. and 81% oppose spending cuts for roads and infrastructure. just 17% want them. it's simple. americans like their teachers teaching, their roads paved and their food safe. and they are willing to raise taxes on the rich to protect these things. republicans better get on board with that or get out of the way. >>> joining me now, melissa harris-perry and e.j. dionne. thank you both for coming on shot tonight. >> good to be with you. >> listen, the parents has the upperhand politically but the republicans haven't been moved. what is going to happen? >> if you think about what we're looking at with this sequester versus what the president laid out in the state of the union, just two weeks ago, r
Feb 16, 2013 4:00am PST
weekend address. time to finish the job by cutting the deficit $4 billion. >> you can make bigger cuts to education and job training and social security benefits. senior citizens and working families to bear the burden of deficit reduction, while the wealthiest are asked to do nothing more. >> that won't work, we can't cut our way to prosperity. >> republicans aren't holding back, criticizing the president over the upcoming threat of sequestration, if nothing is done to avoid it, massive funding cuts to the federal government will be triggered march 1st. >> in his state of the union address, these cuts were a really bad idea. what the president failed to mention was that the sequester was his idea proposed by his administration, and the debt limit negotiations in 2011. and now we in the house on behalf of our constituents are calling on the president to join us in replacing the sequester with better, more responsible spending cuts. >> meanwhile, a glimpse of the president's personal side in a rare moment, he discussed his own childhood while talking about family values in his adoptive
Feb 24, 2013 11:00am EST
efficient use of the money that is made available right now. when we have annual deficits in excess of one dollars trillion -- $1 trillion -- there are lists of attorneys who have shown great evidence of willingness to prosecute these types of crimes, and others who have not. the united states district court for the northern district of all annoyed, where chicago is located, where they have one of the highest if not the highest murder rates in the country, also has one of the lowest rates of prosecution of gun crimes. it is very disconcerting that you have this kind of inconsistency. i do not think it is all a factor of money, although we are always paying attention to whether law enforcement has the resources they need. they could be more effective and save more lives if this administration were dedicated to making enforcement of our existing gun laws and keeping guns out of the hands of criminals and those with serious mental illness. >> one of the biggest aspects of any gun bill that would be proposed is the so-called gun show loophole, the fact that right now folks who buy guns at
Feb 18, 2013 12:00am EST
better off than they were under labour with a record deficit, with unreformed welfare and with a busted banking system. they will have seen a government who have got the deficit down, cut their income taxes and dealt with the banks. as the governor of the bank of england said today, we are on the road to recovery. >> all the right honorable gentleman shows is how out of touch he is. he is even out of touch with his own office for budget responsibility's figures, which show that, by 2015, people will be worse off than they were in 2010 because prices have been rising faster than earnings under his government. why is this happening? he told us that the economy would be growing, but the truth is that it has been flatlining. will he acknowledge that it is his failure to get growth that means that we have falling, not rising, living standards in this country? >> the right honorable gentleman says that prices are rising, but i would remind him that inflation is lower under this government than what we inherited from labour. it has been cut in half from its peak. of course, if his quest
Feb 17, 2013 10:30am EST
several months we got agreement on $2.5 trillion in deficit reduction over the next 10 years. we're ready to do another $1.5 trillion that every economist says we need to do to stablize the debt problem. >> schieffer: would you say morning the profit united states will not let this happen? >> the president of the united states is doing everything he can to not let this happen. we need to work with our friends on the hill. when you look at the senate democratic plan and the president's plan, both very balanced plans that gets some savings in this deficit fight from spending cuts and some savings from increased revenues. what our friends in the house have told us is that they will not even consider anything that includes h1n1 creased revenuees, not even closing loopholes will for corporate jets, closing loopholes will for oil and gas companies. that seems to me to be a position that they should reexamine and come to the table and have a real discussion about it. >> schieffer: "u.s.a. today" said the white house has been circulating its own immigration plan that provides some path to c
Feb 19, 2013 10:00am EST
detailed plan to cut the deficit by $2.5 trillion. it would be 3-1 cuts to taxes. >> they can scoff all they want but either get your country on course and forget the fact you're a democrat or a republican and get to be an american and get cracking! >> the truth is both camps have got to get out of their comfort zone and got to make these tough decisions. naeed the ea they made the easy ones and now have to make the critical ones. >> is this something you would support or could use as a starting point? >> we need to use it as a starting point. i'm not telling you that it's perfect. you know? i don't think, you know, senator simpson walked down from the mountain with all of the solutions. i think we need to sit and starting talking about this as opposed to to posturing. whether the president invites a republican or knows his name? these are absurd postulations. we can't grow the economy when people don't know what it looks like. >> you're on the subcommittee on immigration and huge outrage from the republicans about the leak of those details on the plan of immigration. when you look at t
Feb 21, 2013 7:00pm EST
finance deficit spending. now i didn't know the republicans right now are open to closing loopholes and if we close the loophole i would like to take that money and put it into lower marginal tax rates. what is boehner's man saying. why so hinting they would open to close loopholes? >> what he's talking about -- i was going to add he doesn't have any authority to raise taxes. boehner will lose his caucus if he's for any tax increase. >> hi, rogers. good to see you. >> sorry. you said talk. i thought you said talk. >> go ahead. bob costa, tell me this isn't true. this can't be true they are not talking about another tax hike. >> they think they got burned about that fiscal cliff tax that at least let some of those new revenues come in with the bush tax rates expiring. what boehner spokesperson is speaking about the tax reform. nobody expects major tax reform happen in the next week. to your opinion, at least it's a good thing. >> a great thing. keith boykin do you have any problem with my sermon on the mound? do you have any problems with life in general? >> i like bob costa. he's a good
Feb 19, 2013 12:00pm EST
of jobs and the take-home pay, washington is obsessed with the deficit, and that is that the business elite, a, they're not experiencing unemployment. they're not experiencing declining incomes. they're not having a hard time sending their kids to college or paying for child care. it's very difficult for them to actually see that something like, a, deficit reduction plan is better -- is in the worst interest of the country than something that they are pushing, which is obviously going to be deficit reduction as opposed to job creation. and we actually put out an explainer on this issue just tracking the public opinion among wealthy people, also coincidentally the donor class in washington, and how they favor deficit reduction over job creation 2-1, whereas the vast majority of voters prefer job creation over deficit reduction. >> isn't it supposed to be one in the spairm same, meaning i think the business community thinks if can you get some sort of deficit reduction, maybe something that's not immediate that happens tomorrow that kills growth, but that could actually help -- that cou
Feb 24, 2013 3:00pm EST
they will go in. you heard the president, he wants a bigger deal to have a deficit reduction, a long-term plan. he said if we can't get that by march 1st, we should do something temporary so the cuts don't take effect. but look there are some democrats who politically, including people in the white house, we see the president making these public appeals. but his own people say privately they think in the short-term, they have the political upper hand and they think it would help them, it would hurt the republican party's image, it would hurt the republican party heading into the 2014 cycle to have this happen. so both sides are playing some short-term political calculations. republicans think we have tried to get cuts out of the president, we gave him tax increases and our only leverage is to get these cuts. they also think, ali that some of the predictions are more sky is falling rhetoric and that federal managers will be forced to make tough choices and they won't have the most sensitive services cut, but they'll cut other things. at the moment there are no serious negotiations to
Feb 22, 2013 5:00pm PST
budget deficit shows 62% of americans think the deficit is getting bigger. 28% of americans think that it's staying the same. and get this number, only 6% agree with the truth. my friends, the deficit is shrinking. the congressional budget office says the deficit is down to $845 billion. it is projected to be $600 billion less than when the president took office. americans need to break out of this misinformation loop, don't you think? if they want to listen to a republican, maybe they should try listening to outgoing transportation secretary ray lahood. he spoke about the sequester consequences today, including the loss of 100 air traffic controllers. >> this requires compromise. this requires republicans stepping forward with some ideas about how to keep essential services of government running at the level that people have been accustomed to. this is not rocket science. >> well, it's not rocket science. but, folks, it is just as serious. get your cell phones out. i want to know what you think. tonight's question, will republican lies prevent a deal on the guester? text "a" for
Feb 15, 2013 10:30pm EST
sequester doesn't go and the place, there is no way around the fact that to try to reduce the deficit, we will have to cut military spending. to have a secretary of defense to as an enlisted soldier and you say offers some plans, i think it will make him an effective cost cutter. it will promote relationships and are also going to do the tough order of downsizing the military at a moment where we need to compromise our safety. and he is a republican. it is unlikely pick for president obama because he is choosing someone that historically did not agree with the president on every subject. he thought was important to have a cabinet that was the cross- section of america. that makes the opposition even harder to understand given the fact that on those issues, this pick might agree with the republican caucus more than democratic. >> james is an independent color. >> i had something for the center based on his research of the gun control problem. i wonder if he noticed two common threads, also including the latest hot shooter in california. first, all of the mass shooters would be columbin
Feb 17, 2013 1:00pm EST
deficit a priority in just the way we've been making the fiscal deficit a priority. because the truth is, we are never going to resolve the fiscal deficit in any ultimate sense in an economy that's growing at 1%, 1.5% or even 2% a year. we have to move to a focus on the growth deficit and if we do that, i think we'll be surprised at how rapidly we'll see improvement in the fiscal picture and i think we'll see a variety of -- because extra tax revenues will come in and less need to pay unemployment insurance benefits. i think we'll also be surprised at, as the economy starts to grow, businesses will be able to invest more in innovation. there's a tendency, which i think is badly wrong, to argue that we need to stop focusing on the short run and we need to focus on the long run instead. i think when we put the focus on stopping stagnation and having america be a rapid escalator, again, what we are doing is the policy that will best prepare us for the long run. >> so, what you are saying, finally, is that the whole effort of kind of the conventional wisdom around simpson-bowles and
Feb 23, 2013 1:00pm EST
bigger deal, deficit reduction, long-term plan, but he said if we can't get that by march 1st we won't, we should do something temporary so the cuts don't take effect. there are some democrats who politically, including people in the white house, we see the president making public appeals but his own people privately say in the short term they have the political upper hand and it would help them and would hurt republicans in congress heading into the 2014 cycle to have this happen. both parties, both sides, if you will, are playing some short-term political calculations. republicans think, look, we've tried to get cuts from the president, gave him tax increases in the last minicrisis, and our only leverage is to get these cuts. athals think some of these predictions are more sky is falling rhetoric and that federal managers will be forced to make tough choices and won't have the most sensitive services cut, but they'll cut other things. it's a game of chicken but at the moment there are no serious negotiations to have a temporary agreement. >> jean has written a brilliant article
FOX News
Feb 19, 2013 9:00am EST
rather on the table that not only cuts the deficit by $2.5 trillion but tries to find common ground between democrats, republicans and the white house. alan simpson moments ago on what president obama must do. >> he knows what to do and if he doesn't get a handle on entitlements and solvency of social security he will have a failed presidency. and if he wants to have a leg gasy of the -- legacy, the new fdr, the second, whatever drives him, that is fine with me, but he will have a failed presidency unless he deals honestly with the entitlements programs without cutting, you know, the poor and the wretched and all the wrest and all this stuff. bill: i don't know if he is the lone ranger but that is some plain talk. stephen hayes, senior writer, "weekly standard", fox news contributor. good morning to you. new proposal as it stands, cut $600 billion from medicare and medicaid. raise $600 billion in new tax revenue. 1.2 doll trillion in other cuts which there are many. that is what is proposed as of 8:30 this morning, 45 minutes ago. take it. what's up? >> sort of an updated version wh
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